- Lee Bok-hyun has announced he will visit the U.S. and meet with the SEC Chairman Gary Gensler.
- According to Lee, the visit will allow him to discuss the virtual asset industry, including the Bitcoin spot ETF.
- The visit will form part of Lee’s plans to visit advanced financial markets such as New York in the second quarter.
The South Korean Head of Financial Supervisory Service, Lee Bok-hyun, has announced he will visit the United States this year and meet with U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler. According to a local report, the visit will allow Lee to discuss the virtual asset industry, including the Bitcoin spot ETF, with the SEC Chairman, Gary Gensler.
Lee announced his business plan for 2024 at the Financial Supervisory Service in Yeouido, Seoul, on February 5. His plans include visiting advanced financial markets such as New York in the second quarter. He noted that the visit would allow him to discuss Korean discount measures, which refer to the tendency for South Korean securities to be assigned lower valuations and other matters such as Bitcoin spot ETFs and a corporate value-up program.
While answering questions from reporters, Lee said:
I will meet with the SEC Chairman Gary Gensler (this year), and there are areas where we will focus on issues such as virtual asset issues and Bitcoin spot ETF policy.
Lee further noted that the SEC’s policy is having a significant global impact, marking it as an important development.
Under Gensler’s leadership, the SEC has approved 11 spot Bitcoin ETF proposals following years of regulatory debates. The approval set a new tone in the virtual currency industry, considering the United States’ leadership role in the global financial ecosystem.
Lee did not provide many details about his intended discussion with Gensler. However, considering the role of both figures in their countries and the industry in question, South Korean crypto practitioners can expect the meeting to focus on crypto policies and regulation.
The outcome of the discussion could significantly impact the development of the South Korean crypto market, which Statista’s data projects to reach $1.8 billion in revenue this year. The research platform also projects an annual revenue growth rate of 5.12%, resulting in a projected total of $2.2 billion for the South Korean crypto market by 2028.
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